Today, we’re excited to announce that Mercury has acquired Teal, a seed stage startup that builds accounting products. Led by Ian Crosby and Adam Saint, who previously co-founded Bench Accounting, the Teal team brings best-in-class talent, technology, and expertise in building for accountants, an important partner in the Mercury ecosystem.
At Mercury, we believe your bank account
Along with a bank account, every scaling company needs financial software to run their business. But today, founders, finance teams, and accountants use multiple tools to manage company finances. Each tool needs to be carefully and separately connected to a bank account, but the tools aren’t integrated with each other. This broken system creates incredible amounts of frustration and needless complexity.
To start to address this, in May, we announced new software to simplify essential financial workflows by powering them directly from the Mercury account. We introduced Mercury Bill Pay to help customers pay bills more accurately, new accounting automations to close the books faster, and Mercury Invoicing to collect customer payments on time. And soon, we’ll add reimbursements alongside our existing corporate credit card to make it possible to control employee spend right from the Mercury account.
The acquisition of Teal, and the expertise this team brings in accounting and with accountants, is another step toward simplifying complex financial workflows around the bank account.
When accountants partner with Mercury, they give their clients access to a powerful bank account trusted by more than 200,000 ambitious companies. Accountants feel the power of Mercury through increased productivity – from the ability to connect to multiple clients with a single login, to better and more accurate data quality, to integrations with leading accounting software to sync transactions, bills, payments and card spend – so they can spend less time chasing clients for information. With the Teal team part of Mercury, we will continue to deepen our investments in and relationships with accountants.
Jason, Max, and I could not be more thrilled to have Ian, Adam, and the talented Teal team join Mercury to strengthen what we’re doing to transform banking into a lever that helps ambitious companies operate at their best. Stay tuned for what’s to come.
Immad Akhund is the co-founder and CEO of Mercury.